Economics
BOE Unlikely to Cut Rates Below Zero in Near Term, Survey Shows
- Only one of 14 economists expect adoption of sub-zero rates
- Officials to keep asset buying, benchmark unchanged next week
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The Bank of England probably won’t cut interest rates below zero in the foreseeable future even as the growth outlook deteriorates.
Just one of 14 economists surveyed by Bloomberg anticipate a move to sub-zero rates for the first time in the BOE’s three-century history. The central bank is due to publish the results of a consultation about how such a move could be facilitated, if it was deemed necessary, alongside its first Monetary Policy Report of the year on Feb. 4.